Feb 28, 2013 7:00am PST
. >> joseph ratzinger, matt, in 2005, was one of only two cardinals who had participated in the papal elections. the two elections of 1978. he knows exactly what the purchas burden of responsibility is that these men are taking on themselves. he knows the conflicting emotions that many of them have. some of which greg and father baron have just described. i think he was saying to them, look, i know how you feel. and i am going to be with you in solidarity and in prayer over the next several weeks. of what is going to be a difficult test. >> at the same time, he has made clear, he does not want to exert undue influence on the process. this is not somebody who's behind the scenes twisting arms saying this should be the next pope? absolutely not, savannah. he is going to disappear. we're not going to see this man for months. he's too much a respecter of the process. he's too much of a respecter of his brother cardinals. and he's too, frankly, humble a human being to try to monkey in any way whatsoever with the selection of his successor. >> matt? >> yeah, i was curious, though, and fathe
Feb 28, 2013 9:00am EST
, after eight years, formal cardinal joseph rat ratzinger retires as pop. as we continue to see what the conclave will do as we search for his successor as the entire world watches what is happening with him. >>> got some breaking news out of the new york fed. a hard right turn here to steve liesman. >> why does this always happen to me, carl? >> hard to follow the pope, my man. >> exactly. let me do my best. the new york fed reporting that total consumer indebtedness rising a scant 3% to 11.3 trillion. housing debt was flat. it was a small gain but the first gain we've seen since the first quarter of 2011, that was thought to be a bit of a statistical anomaly. so maybe this is the first real gain. let me show you what rose. auto loans up 15 billion. credit cards up 5 billion. the perennial student loans up 10 billion and they have been rising quite a bit. delinquencies are quite high. all delinquencies declined except for student loans and they were up almost 12% and probably because of a whole bunch of different reasons, carl, they could be twice as high as that. carl, back to you.